Sampras Industries Budgeted the Following Costs for the Production of Its

question 126

Multiple Choice

Sampras Industries budgeted the following costs for the production of its one and only product, tennis balls, for the next fiscal year: $$\begin{array} { l c } \text { Materials } & \$ 35,000 \\\text { Labor } & 25,000 \\\text { Overhead: } & \\\text { Variable } & 30,000 \\\text { Fixed } & 15,000 \\\text { Selling and administrative: } \\\text { Variable } & 7,500 \\\text { Fixed } & \underline { 12,500 } \\\text { Total costs } & \$ 125,000\end{array}$$ Sampras Industries has a target profit of $30,000. The average target markup for setting prices as a percentage of total costs would be:

• A) 68%
• B) 47%
• C) 24%
• D) 19%

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Definitions:

Individuality

The quality or character of being an individual; particularly of being uniquely oneself, distinct from others in personality and interests.

Diversity

The presence of differences within a given setting, including variations in race, ethnicity, gender, age, sexual orientation, religion, and socio-economic status.

Unity

The state of being united or joined as a whole, often used in the context of teamwork or cohesion within a group.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society.